Question # 1

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

Which one of the following is direct tax

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Sales tax

Import duty

Export duty

Income tax

Trade cycles can be controlled by:

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Fiscal policy

Monetary policy

Buffer stock schemes

All of these

Annual rate of Zakat on cash and trading goods is

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2.0%

2,5%

3.0%

3.5%

Number of beneficiaries of Zakat is stated in the holy Quran

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Five

Seven

Eight

Nine

In which phase of Frade cycle level of employment and income becomes very low.

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Depression

Recovery

Recession

Boom

A good thing in private finance

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Expenditures are equal to income

Expenditure are more than income

Income is more than expenditures

a and b both

If every person pays tax according to his capacity, it is called

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Canon of certainly

Canon of equality

Canon of productivity

Canon of convenience

The ratio of change in investment to change in income is known as:

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Multiplier

Accelerator

MEC

Both a and b

"Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures"
This definition is stead by

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Dalton

Armitage Smith

Bastable

pigou

If income of government is more than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

At last, indirect tax is paid by

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Shopkeeper

Entrepreneur

Customer

Whole-seller

If the rate of tax does not change with decrease or increase in the level of income, is called

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Proportional tax

Progressive tax

Regressive tax

value added tax

The budget period in public finance is

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six months

one year

two years

five years

Zakat can not be given

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to get slaves free

To the collection of zakat

For the construction of Mosque

The converts

The percentage part of the mineral production is payable as Zakat on private owners of minerals

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5%

10%

15%

20%

The main source of the public revenue is

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Fee

Tax

Fines

Gifts and aid

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Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test MCQs With Answers

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